Hughes Federal Credit Union announced another year of strong growth as well as the winners of its 13th Annual Scholarship at Hughes' Annual Meeting on April 14. The 66th annual meeting was held at Amphitheater High School, with approximately 400 member-owners in attendance.
Hughes has granted $70,000 in scholarships to local high school student members since 2005. Congratulations to these deserving students who were awarded $2,000 each:
· Maximillian Atkinson; Pusch Ridge Christian Academy
· Nicolas Dasper-Sullivan, Marana High School
· Delany Harris, homeschooled
· Julia O’Rourke, Ironwood Ridge High School
· Nathan Schafer, Sahuaro High School
In 2017, Hughes Federal Credit Union experienced strong growth in assets, capital, deposits, loans and membership for the seventh year in a row. “Member savings equaled $916.6 million, an increase of 9.46% over the previous year,” reported Robert J. Swick, president/general manager. Total member-ownership grew by 9.57%. A strong financial performance in 2017, combined with continued strong member demand, has enabled Hughes to maintain high dividend rates on all interest-earning deposit accounts and its One Low Rate loan program, in addition to enhancing its Checking PLUS with Benefits Plus program.
In other business at the annual meeting, three incumbents were reelected to the 2018 volunteer board of directors for three-year terms, including Juan Gonzalez, Mary Middleton and David Ortega. Chad Marchand was elected for a two-year term. Volunteer board service distinguishes credit unions from banks.